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Ilford firm Edwards Duthie advises Gaddafi regime on UK asset freezing

Just because the client is dodgy (to put it very mildly) doesn't mean the AML regulations are likely to be an issue. We can all take a view on the morality of the situation, but there is nothing surprising in itself that somebody who has had assets frozen and property confiscated might seek to instruct lawyers. Nor is there any indication of a suspicious movement of funds or misuse of the client account. In short, just because the client is, in all probability, a money launderer alongside numerous other offences, doesn't mean AML regs are an issue if the engagement itself isn't effectively a front for money laundering.

23-Aug-2011

9:48 am